How Retailers Can Leverage Mobile To Boost Holiday Sales

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by Soo Jin Oh
SVP, Data Business and Ad Operations, Magnetic

 

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Featured on Marketing Land’s Mobile Marketing Column, July 17, 2014

 

Although we are smack in the middle of the summer season, consumers are already beginning to think about holiday shopping. According to a 2013 Google study, people are making their wish lists — and shopping lists — earlier than ever.

In July 2013, nearly half of surveyed shoppers had already made plans regarding when they were going to purchase their gifts. For those actively planning, 30% were expected to start before Halloween and 9% were planning to start before Labor Day.

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Those consumers starting their shopping earlier than ever are looking online to help them make up their minds, accessing the internet from a multitude of devices.

One major channel that is sure to impact retailers more than ever this season: mobile. eMarketer estimates that somewhere in the neighborhood of 18-20% of all holiday season sales this year will occur on mobile devices.

US Retail Mcommerce Sales 2011-2017

This trend doesn’t just hold true for large retailers. According to an Ink from Chasereport, small businesses are planning for mobile shoppers and adapting their mobile brand experiences to prepare for the busiest shopping season of the year.

The percentage of sales happening on mobile is a bit lower for small businesses – estimated at 13% in 2013 – as small business owners are still working to acclimate to consumers’ preferences and spending habits to ensure they get the biggest bang for their buck over the holidays.

Regardless of whether you are a large or small retailer, here are a few things to keep in mind when it comes to m-commerce and holiday shopping:

Consumers Want To Save Money

Consumers are continuously using their mobile devices to identify innovative ways to save money. According to data from Placed, receiving coupons, discounts and comparing prices were among the most common ways marketers used their devices to shop on Black Friday.

Pricegrabber shared insights last year that point to pricing comparison and deals as a main theme for mobile devices. In the survey of nearly 4,000 online shoppers conducted in October of 2013, 61 percent said they planned to download coupon apps for holiday shopping; 55 percent said comparison shopping apps; 54 percent intended to download apps from their favorite retailers; 50 percent said they would download Black Friday and Cyber Monday apps to search for the best deals; and 44 percent planned to download apps with the ability to scan barcodes (presumably for price comparisons).

Additionally, a Forrester study commissioned by RetailMeNot (PDF) this year found that 55% of smartphone coupon users will spend more money during their online or in-store visit than they originally anticipated. Forty-four percent will drop between $26 and $50 more, while  17% will spend an extra $50 or more.

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Therefore, retailers should invest in mobile promotions and coupons to meet consumer demands.

Mobile Can Push Consumers Down The Purchase Funnel

Since mobile devices help close the gap between online and brick and mortar stores, retailers should look at mobile as yet another way to push consumers down the purchase funnel.

Tapad and Forrester’s recent study on the consumer’s path to purchase showed that 31 percent of customers who turned to digital channels for their last purchase used multiple devices along the way. And, interestingly, mobile was able to play a role in different parts of the funnel, though it was stronger earlier in the purchase process.

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And consumers’ reasons for switching devices varied, Forrester found, though the quality of the user experience was the most common reason given.

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When you adapt your holiday marketing for mobile, it is important to understand the role of mobile devices and how their unique engagement elements – such as click-to-call, swipe, or even showrooming – help to increase brand engagement and ultimately contribute to the sale.

Consider Tablets As Retail Breeding Grounds

While many people put tablets and smartphones in the same bucket, there are a few distinguishing factors that come into play when it comes to retail. Tablets, for one, are significant for m-commerce sales growth as they provide a more laid-back environment for browsing and purchasing.

Last year, eMarketer predicted that tablet retail m-commerce sales in the U.S. would hit $37 billion in November and December of 2014, while it expected that tablet purchases would account for 62.5% of overall U.S. retail m-commerce sales in 2013.

Interestingly, the smartphone piece of the m-commerce sales pie was only expected to come in at 35% last year. This number will likely shrink as sales on tablets maintain a far higher growth rate.

Take Advantage Of Mobile Ad Targeting

The amount of time and consumer activity that occurs on mobile devices is increasing, and as a result, mobile is quickly becoming a viable marketing channel for brands to reach, engage and influence their audiences.

Nielsen data points to multiple intent-based behaviors occurring on mobile devices such as researching, finding store locations, redeeming coupons and managing shopping lists.

 

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Additionally, with cross-device targeting solutions now available, marketers can leverage signals of intent occurring on desktop and tailor messages across more than one device – laptops, smartphones and tablets.

The ability to extend your ad targeting strategies, specifically those that focus on intent such as site and search retargeting, to mobile represents a huge opportunity for marketers to reach and remain connected to consumers in the months leading up to the holidays.

It’s hard to believe that while we are only a few months away from the hustle and bustle of the holiday shopping season, it’s already time to get your mobile digital advertising strategy ready.

Viewability Rising As Programmatic Dominates & Fraud Proliferates

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by James Green
CEO, Magnetic

 

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Featured on Marketing Land’s Display Advertising Column, August 11, 2014

 

The number of companies using programmatic ad buying is increasing by the day. A recent Advertiser Perceptions survey reports that 78% of high-level decision makers are now using programmatic technologies and strategies across campaigns.

On the positive side, programmatic allows marketers to buy audiences using data and increases media efficiencies. However, concerns within the real-time bidding (RTB) world are mounting around whether or not ads have a fair shot at being “in-view,” or even seen by a real human vs. a bot.

The “Bad Actors”

The brunt of the issue comes from sites (also referred to as “bad actors”) that claim to have what appears to be significant traffic, and offer those impressions on exchanges. These publishers either cover their sites with ads in order to report a large number of impressions and/or aggregate content to portray a credible environment. These sites don’t provide audiences with content and/or useful information, and are hyper-focused on generating traffic and clicks.

The industry has a variety of names for this behavior including “suspicious traffic,” “fraudulent impressions,” and “non-human traffic”– also known as “bots.” The fake clicks are executed by a “botnet,” which then completes the action of clicking on display ads.

Bots are committing wide-scale fraud beneath operating system levels; often this is undetectable—most of the time we just don’t know if our computers are infected. The average person isn’t equipped with the necessary knowledge to recognize when they are being victimized by fraud.

It Affects The Entire Ecosystem

Although this ultimately impacts advertisers, the entire ecosystem is affected because it impacts supply and demand.

In order to determine if your ad is viewable, there are several sources you can use to check viewability rates. According to DoubleVerify, RTB buying dipped from 48% viewable to 43% from Q3 to Q4 2014. The percentage fell from 55% to 51% at ad networks and from 64% to 58% on publisher-direct exchanges.

However, the world of digital display advertising has become so vast that it is almost too difficult to measure. Recent numbers show that the number of available ad impressions is all over the map (well in the trillions per year for just one ad exchange). When you compare the number of impressions a year to the total U.S. population of internet users, it would actually mean that a given user potentially sees about 6,000 ads per month.

Therefore, there are more daily ad impressions available than the average internet user could possibly see in a day.

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Digital advertising remains the most effective form of advertising in the world. In order to make sure you are not getting taken advantage of, implement an anti-fraud solution and move beyond post-click attribution, which is the easiest form of attribution to fake.

Current Metrics Are Too Easy To Game

Traditional metrics like post-click, click-through and view-through conversions have made it fairly simple for fraudsters to game the system across the open marketplace. When marketers optimize to view-through or last-click, the media partners that recorded the last view or conversion event are rewarded. Occasionally, such rewards lead to optimization towards suspicious traffic and create high conversions.

However, in the end, this results in essentially no real consumer response and no brand exposure. In other words, advertisers waste their media dollars on ads that are never actually seen.

RTB is a double-edged sword: it’s created efficiencies and opportunities for the digital marketer while also cultivating problems for publishers and advertisers. For the entire ecosystem, it has created an exponential increase in ads, the companies who serve them and measure them, and the potential for fraudulent traffic.

Viewability Is The Solution

Viewability is the common denominator that will solve these negative practices in the digital marketing industry.

Now that we’ve hit the second-half of 2014, we’ll see more brands demand that their partners, including publishers and media providers, implement anti-fraud solutions. This should help marketers become more comfortable with using viewability as a viable brand measure for digital display.

Ultimately, everyone has a stake in steering the industry toward better quality measures. The short-term impact may be a bit scary for publishers, media firms and agencies alike, but the end result will create a more viable display ecosystem and a thriving future for programmatic that we all know is possible.

Magnetic Launches Viewability Whitepaper

Recently, Magnetic released its whitepaper entitled “Viewability: The Antidote for Toxic Ad Environments,” which takes a deep look at the mounting fraud and suspicious traffic across programmatic inventory in display advertising. As the industry aims to establish credibility in the real-time buying ecosystem, there is an increasing need for better quality measures, standardization, and enforcement from both the buy and sell sides. Only by rallying behind these issues can the industry move toward solving for viewability.

Check out Magnetic’s whitepaper to learn more. Key insights include:

  • Economic impact of fraudulent traffic
  • The benefits of RTB
  • Brand safety challenges online
  • Creating viewable impression standards
  • Industry actions & new technologies

Click here to download Magnetic’s Viewability Whitepaper!

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Advance From Multichannel to Omnichannel Strategy

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by James Green
CEO, Magnetic

 

Featured on CMS Wire, July 29, 2014

 

ComScore recently reported that 67 percent of consumers start shopping on one device, but complete the purchase elsewhere. In another survey conducted by TapAd and Forrester, more than 70 percent of consumers reported using three or more devices during their purchase journey.

In a world where consumers have so many choices and access to endless information, marketers must organize brand experiences so that they are tailored to the omnichannel customer.

Rome Wasn’t Built in a Day

Most retailers have taken the first steps towards omnichannel marketing by implementing digital strategies alongside more traditional forms of selling products and reaching audiences. But before marketers can begin to address big hurdles such as cross device brand experiences, personal marketing and ensuring information related to inventory and products are relevant and updated in real time, they must ensure that their multichannel strategy is sound and in place.

Multichannel marketing can serve as the foundation for taking your brand omnichannel, but using so many channels in unison effectively is a tough nut to crack. Most retailers simply don’t have the software and data infrastructure to power awareness across channels in a manner where nearly every consumer touch point connects to another. It’s best to start small and evolve your marketing to be omnichannel over time.

Build a Digital Foundation

Digital is the channel in which retailers engage and remain connected with consumers, so your online storefront — be it mobile web or website — should be optimized. This includes testing the conversion path, optimizing landing pages and creating a social strategy that supports traffic and engagement to these environments.

Once your landing pages are in place, start with search engine marketing. GE Capital Retail Bank’s second annual Major Purchase Shopper Study showed that 81 percent of consumers go online before making a purchase. Judging from my own experience, consumers are asking marketers to respond to their searches.

Search strategies can help drive more visits to your website or store and influence consumers at the beginning of their purchasing cycle. While many tend to consider organic search before paid search, they significantly affect one another and should go hand in hand.

Activate Display Advertising with Intent Data

If consumers are searching for your product and visiting your website, use those website visits and your entire CRM database to kick-start your retargeting efforts. Site retargeting enables brands to re-approach customers by reaching them with ads related to their on-site behaviors.

As a marketer, you know a lot about your customer and have first party data that should provide you with the means to create custom ad experiences. Using intent from third party data related to your customer’s journey, such as search activity and keywords, is another way to capture, attract and influence during the path to purchase. Use search data as an indicator of consumer intent. For example, if I searched for “men’s suits,” it would make sense for a retailer such as Brooks Brothers to reach me in the search engine, with display ads as I move across the web, and then as I read content on my tablet. Search retargeting is a powerful digital marketing strategy for acquiring new customers and moving them along in the funnel.

Connect Across Screens

Many marketers tackle real time engagement through programmatic buying that uses first and third party data for ad targeting on the mobile web and other points of brand engagement. This includes using data within mobile apps, which help drive up brand loyalty, or for personalized offers based on location and store proximity. Retailers can also leverage data to deliver product recommendations right to your mobile device and link online and in-store traffic.

Where should a marketer start? First, establish your mobile presence with an app and mobile optimized site. Next, begin testing data-driven advertising on the mobile web and then begin to layer in features that satisfy the demands of your customers such as QR codes or showrooming.

Macy’s and Best Buy are two great examples of retailers adopting omnichannel strategies. Macy’s continuously encourages shoppers to scan products via their mobile app while shopping in brick and mortar stores. Macy’s annual digital plan focuses heavily on mobile and seeks to “close the gap between store, desktop and mobile.”

Another example of Macy’s mobile focus is its deployment of a touchscreen shopping option within the handbag department to let consumers self-checkout. A concurrent TV campaign is also running, in which the commercial messaging drives viewers to download the retailer’s app.

Best Buy’s omnichannel strategy centers on adding value to brick and mortar retail stores that were, for a time, threatened by e-commerce competitors. Adding a “Store Pickup” option within its online shopping process turned out to be a major win for the brand. Although many shoppers compare products and buy online, some still prefer to pick up goods in person from a physical store.

Omnichannel is a natural progression from multichannel marketing and will continue to become widely adopted as consumers’ engagement across devices increases. The retail industry will also change as new technologies influence the customer experience and close the gap between channels. In this omnichannel world, attribution becomes more important than ever before.

As you steps towards creating awareness throughout channels, implementing data strategies, and syncing up offline and online, make sure you take a coordinated approach that provides real results to help plan the future of your marketing strategy, and even better, overall business.

The Simple Side Of Programmatic

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by James Green
CEO, Magnetic

 

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Featured on MediaPost’s RTB Insider, July 24, 2014

 

Programmatic buying has become one of the most popular buzzwords in our industry, and as I said a few months back, it’s often used as a catchall phrase or used interchangeably with the term “real-time bidding.” Since then, there’s been much talk about the evolution of programmatic marketing. The Wall Street Journal recently reported that top publishers are now getting in the game and selling home page ads, with confidence, through programmatic channels. Time Inc., Hearst Corporation, Business Insider and others are all on board because the current set of tools available allow for pricing control, circumventing the fear that prices could tumble via a programmatic exchange. In addition, media buying firms and major brands like Procter & Gamble are also looking to buy a majority of online ads programmatically, proving that the wave is unstoppable.

Despite the momentum from many major players in the marketing space, recent research by the Association of National Advertisers (ANA) and Forrester Consulting found that more than half of the marketers surveyed didn’t understand programmatic well enough to buy and execute campaigns with it. Further, just one-quarter of U.S. client-side marketers understand and are using programmatic technology.

Although the world of data and real-time buying may seem overly complex, programmatic marketing actually simplifies our lives more than we think. The fact that we can serve up an ad based on the end user’s behaviors and attributes in 120 milliseconds wherever they are is truly impressive and creates engagements that we may never have thought possible. Instead of focusing on the complexities, we should be looking at the ways programmatic simplifies our lives.

With programmatic advertising, technology and data do a majority of the work, which enables the digital medium to reach audiences at massive scale. The automated process also creates efficiencies across buying media, from identifying the right audience to purchasing and delivering the actual ad.

While some have expressed concern over the changing of the guard from humans to robots, the rise of programmatic doesn’t mean replacing the human element altogether. Instead, the main objective is to make advertising more efficient, relevant and scalable in a world that is quickly adapting to digital technology. It focuses on eliminating time spent on processes that can be automated, and driven by data.

The rise of data is a key component to creating and running successful ad campaigns from buying to optimization. Site and search retargeting are common practices for programmatic marketing, which allows marketers to rely on algorithms to decide which audience to buy, what messages to show and even when to reach them. All of this is done by combining massive amounts of data elements — from site behaviors to purchasing patterns — and then using rules-based logic to make the best decision for your brand. This machine-to-machine process streamlines communication and implementation, creating great efficiencies and ultimately saving on costs.

Without programmatic solutions, marketers would have a hard time keeping up with the digital landscape and satisfying customers. Instead of looking at programmatic as the complex system for advertising, we should be thinking of it as the tool that simplifies our marketing campaigns and enables brands to take full advantage of what the digital medium has to offer.

 

Magnetic NYC has moved!

That’s right, our headquarters in NYC has moved to a shiny new office. While it was a bit nostalgic to leave our “first home,” we’re excited to embrace our new digs, which feature beautiful blue walls, a brand new kitchen, an iced coffee machine, and a little more elbowroom!

Magnetic has been growing rapidly over the past few years, and we now have over 100 employees across the globe.  Our new office showcases the type of company that Magnetic is: welcoming, open, and ever growing!

Come say Hello!

Our new address is:
122 W 27th Street, 7th Floor
New York, NY 10001

Thank you to everyone who had a part in the move!

Check out some pictures of our new space below:


Understanding The Complexity Of Mobile Ad Attribution

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by Soo Jin Oh
SVP, Data Business and Ad Operations, Magnetic

 

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Featured on Marketing Land’s Mobile Marketing Column, July 17, 2014

 

In this complex and fragmented marketing landscape where a consumer’s purchasing journey moves from desktop to mobile to offline channels, measuring the contribution of all these touch points is exceedingly complicated. Recently, one of these media has become increasingly challenging: mobile.

While consumer usage of mobile devices is ballooning, mobile ad spend is still lagging behind. Marketers know that consumers are on their smartphones and tablets 24/7 and that this usage will only continue to grow, but a lot of uncertainty remains around attribution and how to accurately measure mobile campaigns.

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There are multiple devices that people use to engage with brands, and without a universal method to track campaigns across all of these devices, the efficacy of mobile campaigns can be underreported or devalued. While “closed loop” point of sale technology (mobile payments, coupons, etc.) may seem like a sure bet to measure mobile campaigns, many of these methods are still in their nascent stages with no clear standards.

Therefore, there are challenges in delivering measurement at scale, especially when brands are trying to address the “upper funnel” audience where mobile is seeing high amounts of dollars.

Currently, if an advertiser uses a pixel like a Google Floodlight to track conversions, the measurement is going to be flawed and lacking. The current cookie cannot track across device or within mobile environments (mobile web to app). That means if a user saw the ad on a smartphone and then converted on a tablet or desktop, the pixel will not give credit where credit is due.

However, moves like Google’s acquisition of Adometry means that there are companies that are working towards advancing its pixel to track cross-device.

Beyond online and mobile tracking challenges, it’s also difficult for marketers to track the digital influence of offline purchases. A customer could have seen an ad for a sale on their mobile device and walked into the store to convert, but the credit will not be given to the influencer unless there was a tracking mechanism in place that can tie the two together.

While innovation in mobile attribution is still in its early stages, there are a few best practices that marketers should keep in mind to determine how to measure the impact that mobile has on the overall media mix.

Adopt A Cross-Device Attribution Model

The industry is working to solve for attribution challenges by deploying cross-device targeting solutions into attribution measurement. Before the rise of mobile usage, attribution was focused on spreading credit beyond last touch. With the rise of mobile devices, there is an inherent need to move beyond just last touch measurement and incorporate all devices — and touch points — into your attribution model.

While there are still shortcomings with scale and device matching using first-party login data, and matching algorithms may only be based on probabilistic scores without login data, marketers should still adopt a cross-device model to get the most accurate information about their customers’ purchase patterns.

Review The Effectiveness Of Your Brand Messaging

Looking at the efficacy of your brand messaging will help you measure engagement with mobile ads. Building engagements within the mobile creative will help marketers measure the efficacy of their campaign.

Deploy Mobile Payments, Coupons Or QR Codes

Mobile payments, coupons or QR codes can be tracked more efficiently, which helps if your campaign objective is more ROI-driven. By integrating these tactics in your mobile marketing platform, you can generate more success from your marketing spend.

Use Location-Based Data

Using location-based data analysis to determine the mobile marketing impact on offline and in-store purchases is another effective tactic. Companies like Ninth Decimal and PlaceIQ are doing this by aggregating all of the mobile devices that were reached during a campaign and analyzing the number of those same devices that were later seen within a specific location or place footprint.

The high demand for mobile attribution is only going to spread as mobile payments and other forms of in-store engagements increase and as more ad dollars are spent on mobile devices. This in turn compels attribution companies to further advance their technologies to measure cross-device effectively.

At this point, there is no one-size-fits-all approach for achieving measurement at scale, but by continually testing methods and developing new technologies we will get closer to an effective solution.

The Power Of Real-Time Display For Back-To-School

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by James Green
CEO, Magnetic

 

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Featured on Marketing Land’s Display Advertising Column, July 14, 2014

 

While many schools have recently let students out for summer break, back-to-school (BTS) shopping is already top of mind for marketers.

This season, eMarketer estimates about $50B will be spent on retail e-commerce sales, including a wide range of products and categories from apparel and electronics to school and office supplies.

eMarketer’s recent report explains that the main buying season for back-to-school shopping is July and August, as 96% of parents expect to have completed the majority of their purchases by the end of the summer.

However, the data also reveal that most BTS product research actually happens before the end of July. Therefore, the consideration phase and optimal time for marketers to get their consumers’ attention before it’s too late is now.

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Real-time buying and programmatic platforms provide retailers with an efficient and effective way to capitalize on these seasonal purchasing patterns. As you can imagine, the amount of data pertaining to back-to-school buying is running rampant across the web.

Consumers are researching products, reading product reviews, and searching online for the best BTS deals. This stream of real-time information helps predict consumers’ intent to purchase.

Many marketers rely heavily on their own site-level data for their real-time campaigns, but a majority of intent data lives outside of the brand’s environment. By only using site behaviors, brands are limited in their ability to get in front of their audience earlier in the purchasing cycle and put themselves at risk of missing the opportunity to acquire those customers.

Look At Data On A Continuum

A majority of consumers are not waiting by their phone, TV and desktops for information to fall in their lap. They are looking for what they need on their own, through searches across the web, engagement on social networks, reading articles and perusing content.

As they embark on these journeys for whatever they might be after, there is a data trail, which for retailers is extremely powerful in terms of turning them into customers. Data moves on a continuum and for every customer, it constantly changes and evolves.

Retailers need to be nimble in order to adapt to these changes instantly and deliver messages that are relevant and impactful enough to influence the consumer along their path to purchase.

Feature Your Products

Using site and search behaviors for real-time targeting is only half of the equation. It helps you refine your real-time targeting strategy for customers that might be more likely to purchase and helps you programmatically determine the value of a customer. But, using data to customize the actual creative in a way where it might feature a product that a consumer has recently viewed or researched online sweetens the deal.

BTS season is a huge event for retailers to push products off shelves and a perfect opportunity for marketers to test dynamic creative. Personalizing the creative message with text and/or an image of a product creates highly relevant experiences for your audiences.

And for marketers, it enables them to efficiently produce multiple creative messages, in real-time. This means that a company like Staples, which sells so many products for the BTS season, can dynamically optimize creative elements of an ad to feature a sale on a specific product that a customer may have searched for or viewed online.

The end result is that the ad itself might look very different for the customer that searched for “sales on school backpacks” compared to the customer that is in market for an electronic-related BTS product, such as a tablet.

Not All Audiences Are Created Equal

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The beauty of using programmatic marketing with real-time advertising is that it allows you to take the approach that not all customers are equal, letting you optimize your media spend at the user level. Buying audiences as opposed to content enables the machinery to make instant decisions based on specific attributes, which helps both big and small box retailers create highly efficient and effective BTS customer acquisition strategies.

If your algorithm can tell you that one consumer is more likely to purchase than another, thenthat user is of greater value. And, in the real-time buying universe, prices are dynamic, which means you may bid more for a customer that has previously purchased an item or that has recently searched for your competitors’ products.

Additionally, you might find that specific audiences convert at different times of the day or week, and from there refine your media strategy to reach consumers at the optimal times of the day/week. The ability to make all of these marketing changes and optimizations in real time greatly increases a marketer’s chance to influence and get in front of their customer, especially for seasonal initiatives like BTS when the time to purchase has a shelf life.

Coupled together, real-time marketing and intent data make it possible for marketers to serveas personal shoppers, delivering information when the customer shows intent. As the e-commerce world becomes more and more cluttered and consumers increase their time spent searching and researching on their own, marketers can no longer afford to ignore the value that time and relevancy bring to their advertising strategy. School might be out, but shopping is in.

Stock image used with permission of Shutterstock.com

A Deeper Look @ London’s Attribution Revolution

Last week, Magnetic brought Attribution Revolution: The Measurement Series to London’s Soho Hotel! The evening kicked off with an exclusive viewing party of the World Cup games, and was followed by networking, drinks and passed canapés. Guests then joined panelists for an energetic discussion on ad measurement, attribution modeling, and evaluating performance across media channels. Panelists included:

  • James Green, CEO, Magnetic (Moderator)
  • Jeff Greenfield, Co-Founder, C3Metrics
  • Jon Beeston, Director, New Product Innovation, EMEA, Adobe
  • Paul Pellman, Director/ Head of Adometry, Adometry by Google
  • Phil Duffield, SVP of International, Adap.tv

The panelists discussed and debated topics such as KPI’s, looking beyond last-click, data collection and filtering data, implementation, and ways to make attribution actionable.

Key takeaways:

    • Key Performance Indicators:
      Panelists debated how attribution plays a role in determining KPI’s. According to Pellman, the effect on actual KPI’s isn’t that significant – they are just calculated more accurately. Greenfield had an opposing viewpoint, and argued that marketers need to call their KPI’s something different, because the numbers are going to look different. “When you migrate yourself and your business from last click to full funnel, it’s a whole different lens.”
    • Data-Driven vs. Rules-Based Attribution:
      According to Pellman, a data-driven algorithmic approach is the most accurate way to implement attribution because “different media performs differently for different clients, and at different times of the year.” Greenfield believes there are many different ways to measure data, and that there is not one right methodology – the main goal is to stop people from using last-click. And while he notes that C3 Metric’s approach is algorithmic, he promotes a rules-based approach, and allowing clients to decide how they want to distribute credit.
    • Data Filtering & Collection
      Panelists agreed that in order to trust your results, you need to have clean data. According to Greenfield, “It’s your data collection that matters more than anything else.” If you are collecting bad data, then it doesn’t matter how you crunch it. He stressed the importance of filtering out “last-second ads” and “unseen ads.”
    • Actionable Attribution:
      Panelists were asked to give examples of actionable attribution. One notable example by Greenfield included a longer path to purchase for customers, which led to changes in their marketing plan. In another case, clients saw that non-branded search terms lead to conversions later on. Duffield believes it’s important to see attribution in real-time, and make decisions in real-time. “If you bring attribution to a real-time platform…then you can have actions that you can activate straightaway.”

To watch the full panel video, please click here.

And check out some pictures from the event!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Attribution Revolution Takes on London!

Magnetic brought its Attribution Revolution: The Measurement Series to London! The lively event featured drinks, food, networking and a thought-provoking panel discussion led by industry leaders, including:

  • James Green, CEO, Magnetic (moderator)
  • Jeff Greenfield, COO & Co-Founder, C3 Metrics
  • Jon Beeston, Director, New Product Innovation, EMEA, Adobe
  • Paul Pellman, Director/Head of Adometry, Adometry by Google
  • Phil Duffield, SVP of International, Adap.tv

Check out the full panel video below, and stay tuned for a larger recap with pictures from the evening!

Questions for Magnetic? Contact us here!